Tds on interest paid to bajaj finance

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Querist : Anonymous

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Querist : Anonymous (Querist)
01 December 2016 Dear Experts
A bike was financed by bajaj finance pls tell me weather TDS is to be deduct on interest amount paid to bajaj finance?

Regards
Amit Jaiswal

01 December 2016 No, TDS is not applicable on payment to any financial institution and Govt.

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Querist : Anonymous

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Querist : Anonymous (Querist)
01 December 2016 Dear sandeep sir.
I think bajaj finance is NBFC therefore
TDS shall be applicable on interest paid to the same. However if still your view is differ then pls quote any relevant section/clause/case law


02 December 2016 NBFC you have to deduct Tds on interest payable.

02 December 2016 Yes, TDS is applicable u/s 194A, if the amount exceeds the limit mentioned in the section (10K) @10%. I mistakenly taken it a financial institution.



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